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<br />CITY OF LA PORTE, TEXAS
<br />
<br />Management's Discussion and Analysis
<br />For the Year Ended September 30, 2008
<br />
<br />Capital Assets at Year-end
<br />Net of Accumulated Depreciation
<br />
<br />Land
<br />Buildings
<br />Equipment
<br />Improvements
<br />Infrastructure
<br />Construction in Progress
<br />Total
<br />
<br />Governmental
<br />Activities
<br />2008
<br />$ 8,108,756
<br />19,080,887
<br />4,501,469
<br />2,768,649
<br />14,619,115
<br />2,052,990
<br />$ 51,131,866
<br />
<br />Business-type
<br />Activities
<br />2008
<br />$ 2,308,777
<br />314,869
<br />154,145
<br />33,456,152
<br />
<br />6,584,059
<br />$ 42,818,002
<br />
<br />Total
<br />$ 10,417,533
<br />19,395,756
<br />4,655,614
<br />36,224,801
<br />14,619,115
<br />8,637,049
<br />$ 93,949,868
<br />
<br />Additional information of the City of La Porte's capital assets can be found in Note 4 on pages 57-59 of this
<br />report.
<br />
<br />Debt Administration - At the end of the current fiscal year, the City of La Porte had bonded debt payable of
<br />$46,665,000. Of this amount, $39,330,000 comprises bonded debt backed by the full faith and credit of the
<br />government and $7,335,000 represents bonds secured solely by water and sewer revenues.
<br />
<br />Outstanding Debt at Year End
<br />Bonds Payable
<br />
<br />General Obligations
<br />Revenue Bonds Payable
<br />Certificate of Obligations
<br />Total
<br />
<br />Governmental
<br />Activities
<br />2008
<br />$ 16,065,000
<br />
<br />23,265,000
<br />$ 39,330,000
<br />
<br />Business-type
<br />Activities
<br />2008
<br />
<br />$
<br />
<br />5,235,000
<br />2,100,000
<br />$ 7,335,000
<br />
<br />Totals
<br />$ 16,065,000
<br />5,235,000
<br />25,365,000
<br />$ 46,665,000
<br />
<br />The City of La Porte maintains an "Aa3", "A+" , "AA" by Moody's, Standard and Poor's and Fitch respectively for
<br />general obligation debt. The revenue bonds have been rated "A" by all three of these rating agencies.
<br />
<br />Additional information on the City of La Porte's long-term debt can be found in Note 5 on pages 60-64 of this
<br />report.
<br />
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